Oregon's attorney general has withdrawn its motion to block the closing of Paramount and Warner Bros.' merger, clearing a significant legal hurdle for the $111 billion deal. The filing came Friday in Multnomah County Circuit Court in Portland, opening the path for the transaction to close as soon as July 22.
The decision removes one of the remaining obstacles facing what would reshape Hollywood's media landscape. Several states, including Oregon and California, maintain ongoing investigations into whether the merger violates antitrust law. Those probes, however, did not stop Oregon from stepping back from its legal challenge.
The pullback reflects the reality facing state-level antitrust efforts against major corporate consolidation. While state attorneys general have grown more assertive in recent years, federal courts and regulators remain the primary arbiters of large media deals. Oregon's withdrawal suggests the state determined it lacked sufficient legal grounds to sustain a motion for delay, particularly given the deal's advanced stage of approval.
The Paramount-Warner Bros. merger represents a seismic shift for Hollywood studios. Paramount Global, which owns CBS, MTV Networks, and Showtime, would join with Warner Bros. Discovery, owner of HBO, CNN, and the Warner film studio. The combined entity would rank among the entertainment industry's largest players.
California's investigation continues, though the state has not yet moved to block the closing. The California attorney general's office has focused on whether the merger reduces competition in key media markets and whether it disadvantages smaller competitors.
The deal received unconditional approval from the Federal Communications Commission in May, a turning point that undermined state-level resistance. With Oregon's motion withdrawn and California's investigation proceeding without legal intervention, the path to closing appears clear. The merger would become final within weeks, reshaping the studio system that has dominated film and television production for decades.